Bidco acquires 78 acres of Tatu City land for expansion Consumer goods manufacturer Bidco has acquired a 78-acre piece of land at Tatu City — where it expects to set up some of its factories and a warehouse. The Thika-based company is owned by the…

Closing Bell: Williamson Tea and Limuru Tea Top Gainers Williamson Tea Kenya (WTK) and Limuru Tea were the top gainers at the NSE. Both gained 10.00% to close at KES 396.00 and 1045.00 respectively which were KES 36.00 and 95.00 gains in share price. British-American Investments (BRIT) was the…

NSE welcomes pro-investor budget measures Nairobi Securities Exchange (NSE) officials have applauded three of the measures proposed in Treasury secretary Henry Rotich’s budget statement Thursday. For example, exemption of shares from Capital Gains Tax (CGT); plans to introduce mobile-based bond purchases. Exemption from stamp duty of…

Standard Group Limited (SGL) was the top gainer at the Nairobi Securities Exchange. The counter had a gain of 9.77% to the close the day at KES 36.50. This was a KES 3.25 gain in share price. CFC Stanbic Holdings Limited (CFC) closed the day as the top loser registering…

South Sudan instability hits CfC Stanbic profit CFC Stanbic Bank has reported a 28 per cent drop in profit after tax for the three months to March this year attributable to a decline in income from its South Sudan branch. CFC is in the process of converting the South Sudan…

Chase Bank plans to boost capital base as profit hits Sh2.3bn Chase Bank is set to undertake another capital raising venture following rapid growth, straining the ratios set by the regulator. Its total capital as a ratio to its loan book stood at 15.3 per cent in December compared to…

TransCentury, BAT top listed firms with diversified boards The analysis of the listed companies’ boards commissioned by New Faces New Voices (Kenya) was done by research firm Think Business, as a way of  improving corporate governance in Kenya’s listed firms. TransCentury Limited  and BAT are the leading companies in board diversification among…

Food prices offset gains from low energy bills edging up inflation to 5.61pc Inflation bucked a five month decline in February, inching up marginally on rising prices of key food items which offset benefits from lower energy bills. Data from the Central Bank of Kenya (CBK) shows that the cost…

CfC Stanbic triples dividend payout after 10.9pc net profit increase CfC Stanbic Holdings has nearly tripled its dividend payout following a 10.9 per cent increase in net profit for the full-year ended 2014 driven by sharp growth in interest income. The holding company, which owns CfC Stanbic Bank and its…

Safaricom’s M-Pesa cards plan targets e-payment billions The M-Pesa debit cards and point of sale (POS) terminals will enable customers to pay for government services, which the State has committed to shift online in a bid to curb corruption and ease transactions at public offices. Safaricom has signed deals with…